For decades, the UK has faced a housing crisis. And, although the supply of new homes has in recent years improved, a shortage of housing continues to persist. The lack of homes, especially in the most unaffordable and expensive cities and large towns, is a drag on the national economy, damages local prosperity, and deepens inequality. This report explains why the UK still faces a housing shortage, why if nothing changes it will continue, and the reforms required to end it. The problem at the heart of the housing crisis is the discretionary element in the planning system, which rations the supply of land for development and new homes. It is wasteful and inefficient and must be reformed.